Havertys

Havertys was founded by James Joseph (J.J.) Haverty and his brother Michael in 1885. The first store was located at 14 East Hunter Street (now 117 Martin Luther King Jr. Drive) in Atlanta, Georgia. By the third year, the new company moved to a larger location. In the late 1920s, the company took advantage of the booming stock market and went public. The stock sale took place on October 1, 1929. Four weeks later, the market crashed. Havertys' strong financial positions enabled the company to weather the difficult years ahead. As Havertys witnessed the turn of another century, the company underwent many changes. An initiative began to develop Havertys' own brand of furniture, starting with just a few items in February 2000. Most of the company's sales volume is now of merchandise exclusively designed, sourced and produced under the Havertys brand. Progress continued and 100 stores were in business by the beginning of 2001, when the furniture retailer saw another change in leadership. Rawson Haverty retired from the board and took the title chairman emeritus. Grandson of J.J. Haverty, Clarence (Clancy) H. Ridley, elected to the board of directors in 1979, took Rawson's place as chairman of the board. Clancy provided continuity and guidance when J.J.'s great-grandson Clarence H. Smith, who spent his entire career experiencing all facets of the company, became president and CEO in 2002. In 2002, Havertys built their southeastern distribution center in Braselton, Georgia. Since then, it has grown to more than 800,000 sq. ft. The year 2010 marked yet another change for company leadership as L. Phillip Humann succeeded Clancy Ridley as chairman of the board. Clancy was elected chairman emeritus. In 2012, President and CEO Clarence H. Smith, who had been a member of the board of directors since 1989, succeeded L. Phillip Humann as chairman of the board. Mr. Humann remains a member of the board, as lead director. Havertys has expanded to three distribution centers to support over 100 showrooms in 16 states. ==Key dates==

1885: First store opened by J.J. Haverty and his brother Michael 1889: Partnership with Amos G. Rhodes to form Rhodes-Haverty Furniture 1908: J.J. Haverty and son Clarence split with Rhodes and re-establish Haverty Furniture Co 1929: Company went public as Haverty Furniture Companies, Inc. 1938: Clarence Haverty became president 1955: Clarence Haverty's son, Rawson, appointed president 1984: J.J. Haverty's grandson, Frank McGaughey, Jr., named president 1994: Jay E. Slater became president 1998: Stock moved to New York Stock Exchange 1999: 100th store opened 2000: Launch of own brand of furniture 2001: Clarence H. Smith, J.J.'s great-grandson, named president 2008: First online sale ==Community service==

Over the years, Havertys has contributed time, labor, money and furnishings to national causes such as United Way, American Red Cross, the American Cancer Foundation, the American Heart Association and many more. In 2010, the company became a national sponsor of the American Cancer Society: Making Strides Against Breast Cancer walk. Furnishings and accessories were donated to families featured on Extreme Makeover: Home Edition. In several instances, local employees volunteered their time to help in the process. In the Atlanta area, Havertys has made an impact on the High Museum of Art, MARTA, Saint Joseph's Hospital and many charities associated with the Catholic Archdiocese of Atlanta. ==Environmental impact==

Havertys has invested $750,000 in equipment that recycles approximately 4,000 tons of corrugated material and 120 tons of Styrofoam each year. ==References==